With the deep analysis of the above options, it is suggested that the company must pick the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would make it possible for the business to not only present new and innovative items in the market it would likewise decrease the high expenses on R&D under alternative 2 and increase the revenue margins. It would allow the business to increase its share costs also, as financiers are willing to invest more in business with considerable R&D costs and boost in the overall worth of the business.
Action and implementation Strategy
Strategy can be executed efficiently by developing particular short term in addition to long term plans. These strategies might be as follows;
Short Term Plan (0-1 year)
• Under the short term strategy Hanson Manufacturing Co should perform various activities to implement its NHW strategy efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to take a look at the core selling brands, which generate most of its profits.
• Examine the existing target audience in addition to the market segment which is not consist of in the company's circle.
• Examine the present financial data to determine the quantity that must be invested in the R&D and acquisitions.
• Evaluate the possible investors and their nature, i.e. do they desire long term advantages (capital gain), or the desire early earnings (dividend). It would let the business to understand that just how much amount needs to be invested in R&D.
Mid Term Plan (1-5 years)
• Get those organizations in which the business has prospective experience to deal with. Get most favorable companies with a strong dedication to health, to construct the consumer's understandings in the best direction.
• Focus more on acquisitions than R&D to construct the base in the customer's mind about Hanson Manufacturing Co values and vision and to prevent possible threat of sunk cost.
Long Term Plan (1-10 years)
• Acquire organizations with health in addition to taste element, as the base for the Hanson Manufacturing Co as a company producing healthy items has been constructed under midterm plan and now the business might move towards taste factor also to grasp the consumers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the significant time to develop new items.
